Dear Confused,
It shouldn't have any impact on your credit score. Banks sometimes do what's called a "hard pull" or inquiry on your credit report when you open a bank account, but there's not a reason for them to do it when you're closing the account. A hard pull on your credit report shows up as an inquiry and impacts your credit score for the following 12 months. According to the myFICO.com publication, "Understanding Your FICO Score," "For most people, one additional credit inquiry will take fewer than five points off their FICO score."

A soft pull is when a firm reviews your credit as part of a marketing decision. It only shows up on credit reports that you request, and isn't shown as a credit inquiry when others request to review your credit.

There's a separate consumer report on your banking relationships. Called a ChexSystems report, it tracks your banking relationships. Negative information, such as a bounced check, stays on your report for five years. Just like your credit reports, you can get a free copy of your ChexSystems report once per year. The ChexSystems Consumer Assistance Web page provides a link to get your free report and provides more information about that report.

If you're looking for a replacement checking account, I'd suggest reviewing your ChexSystems report before closing your existing account, just to be sure that the report is clean. The new bank is likely to review the ChexSystems report, and people with negative reports can have trouble opening a new checking account. If you have a clean report and want to open a new account, open the new account before closing the old one.

Get more news, money-saving tips and expert advice by signing up for a free Bankrate newsletter.

Ask the adviser

To ask a question of Dr. Don, go to the "Ask the Experts" page, and select one of these topics: "Financing a home," "Saving & Investing" or "Money." Read more Dr. Don columns for additional personal finance advice.

Bankrate's content, including the guidance of its advice-and-expert columns and this website, is intended only to assist you with financial decisions. The content is broad in scope and does not consider your personal financial situation. Bankrate recommends that you seek the advice of advisers who are fully aware of your individual circumstances before making any final decisions or implementing any financial strategy. Please remember that your use of this website is governed by Bankrate's Terms of Use.

Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused. We do not permit the inclusion of hyperlinks in comments and may remove any comment that includes a hyperlink.

Bankrate.com is an independent, advertising-supported publisher and comparison service. Bankrate may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on certain links posted on this website.